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how did you get this for £66k :O that's an amazing deal, which area is this is and how do you get these as they usually are sold in less than a day when these deals come out on rightmove or zoopla. Perhaps from an auction? Edit: Also how is your interest repayment/ month so low, at the least i would have thought it would be £300, did you get a fixed rate, i imagine its low due to covid but may increase a lot after lockdown and recovery of the economy
Hello, can a property below £100000 mortgageable? As I heard most banks only lend for house price above around £170000 -180000. Some may lend for these low house prices but the interest rate will be much higher.
As others have said there is some great info in this video, thanks. You do find that the profits are diluted by taxes, fees, unexpected costs along the way though
Didn't you take off all the tiles like you show in the video and then put them back on? It's a bit confusing. But regrouting and reglazing seems like the best value option.
Kevin, fantastic idea about buying the kitchen using LNPG. Could you tell me the overall price difference between buying retail compared to buying through LNPG.
Hi. Been binge watching all these property vids and thinking of jumping in. Could someone possibly explain why they didn't turn it into a multi let - that is, rent out the bedrooms individually, thus increasing the cash flow? What did I miss? Thanks
I would love to know more about the contractual/payment side of these deals. Who owns the property, how does the JV get paid etc. Does the rent go straight to them or run through a company and so on. Love the content
Hi Kevin. How did you legal costs and stamp duty come in at under £3k? I make stamp duty alone around that figure (or did you somehow get around the +3% for it not being your main home?). Secondly, the £14k profit after re-valuation is much reduced with 40% (£5.6k) capital gains tax. What is your cut off point for a viable investment, then. Is it a percentage profit or an amount? And how do you avoid the +3% SDLT on the purchase? Thanks, really enjoy your videos, I’m learning a great deal. I have 3 rental properties at the moment but hope to get more, although property is very expensive in my area!
3% Stamp duty was £1991 Ona. £66367 purchase price. no capital gains tax as I’m keeping the property. CGT is only payable when you sell and only if purchased in personal name. This is purchase within a LTD company so even if I sold it would be corporation tax. Plus CGT is not 40%, it’s 28% so a lot of what you said above is incorrect.
Leaving money in the property means leaving a certain amount of equity in the property. For example, if a property is worth £100K and your mortgage is 75% loan to value you’ve left £25K in the property of equity.
The most important thing when investing with others is to draw up a Legal Contract. In that document you decide if or when you pull out and what percentage you would take - which is usually related to what you put in.
Great stuff Kevin - what do you have in place to prevent the JV partner selling the property before you are able to take half the equity and cash flow?
I'm sorry to say this but how have you only made £14k profit when there were two opportunities to add value 1.) buying from motivated seller 2.)refurbishing the property Love the channel though
Nikki On: Oh yes it is !! The property is not in London, I believe anyway. My present refurb, and I have done more than this one, is coming in at around £11k. Shop wisely! As Kevin says, a lot of people go way over the top, did you notice he didn't change the bath? That room was mostly just tidied up. Listen to what he is saying ...
Hey Kevin - your advise and your strategies are Great - too bad your Wardrobe and your choice of Barber has more of a personality than what you Have, and that is taking away from what you are saying.
Exactly, It's really good keeping an expert with years of experience close. Just like I have Mrs Angela Regina Mende she has made a lot of profits for me.
FREE DOWNLOAD How YOU Can Make A FORTUNE From Buy-To-Let
bit.ly/BTLReport-YT
DISCOVER HOW TENS OF THOUSANDS OF ORDINARY BRITS ARE QUIETLY GETTING RICH WITH MINIMUM INVESTMENT!
**REGISTER NOW**
bit.ly/PRS-YT
Quality stuff Kevin. Extremely insightful.
Do you factor in landlord insurance; servicing; letting agents; rent guarantee; LNPG subs etc from the monthly rental income?
How do you find a trust worthy jv, and hiw do you find someone that is willing to do a jv with you. ??
how did you get this for £66k :O
that's an amazing deal, which area is this is and how do you get these as they usually are sold in less than a day when these deals come out on rightmove or zoopla. Perhaps from an auction?
Edit: Also how is your interest repayment/ month so low, at the least i would have thought it would be £300, did you get a fixed rate, i imagine its low due to covid but may increase a lot after lockdown and recovery of the economy
Hello, can a property below £100000 mortgageable?
As I heard most banks only lend for house price above around £170000 -180000.
Some may lend for these low house prices but the interest rate will be much higher.
As others have said there is some great info in this video, thanks. You do find that the profits are diluted by taxes, fees, unexpected costs along the way though
Didn't you take off all the tiles like you show in the video and then put them back on? It's a bit confusing. But regrouting and reglazing seems like the best value option.
Could you please explain what LNPG means? Very helpful video
As always very very in depth information. Kevin you are awesome
Do I have to go through the estates agency for renting my buy to let property ? Could I rent it directly to friends? Thanks for the inspired vids
Really love your videos, very helpful. Would you be able to list out the work schedule and the breakdown costs for all refurb items?
Excellent content presented with human decency and ethical standards which make you an excellent ambassador for your profession. 🎯
Kevin, fantastic idea about buying the kitchen using LNPG. Could you tell me the overall price difference between buying retail compared to buying through LNPG.
Outstanding explanation! People like you are highly valuable! Really enjoyed this it’s so easy to understand. Awesome videos 😊😊😊
Hi. Been binge watching all these property vids and thinking of jumping in. Could someone possibly explain why they didn't turn it into a multi let - that is, rent out the bedrooms individually, thus increasing the cash flow? What did I miss? Thanks
I’d like to know about taxes on profits and rent. Thanks
Hi Kevin, great informative video.
How are you managing to get it revalued and mortguaged higher after only owning it a month or two.
Cheers
You can refinance straight away within a LTD company, no 6 month rule
Great points - especially about finishing the project to an appropriate standard for the area and likely tenant.
I would love to know more about the contractual/payment side of these deals. Who owns the property, how does the JV get paid etc. Does the rent go straight to them or run through a company and so on. Love the content
Hi Kevin. How did you legal costs and stamp duty come in at under £3k? I make stamp duty alone around that figure (or did you somehow get around the +3% for it not being your main home?). Secondly, the £14k profit after re-valuation is much reduced with 40% (£5.6k) capital gains tax. What is your cut off point for a viable investment, then. Is it a percentage profit or an amount? And how do you avoid the +3% SDLT on the purchase?
Thanks, really enjoy your videos, I’m learning a great deal. I have 3 rental properties at the moment but hope to get more, although property is very expensive in my area!
3% Stamp duty was £1991 Ona. £66367 purchase price.
no capital gains tax as I’m keeping the property. CGT is only payable when you sell and only if purchased in personal name. This is purchase within a LTD company so even if I sold it would be corporation tax.
Plus CGT is not 40%, it’s 28% so a lot of what you said above is incorrect.
Brilliant video
Great final video Kevin
Why not HMO??
Hi Kevin, please can you explain what you mean by leaving money in a property?
Leaving money in the property means leaving a certain amount of equity in the property. For example, if a property is worth £100K and your mortgage is 75% loan to value you’ve left £25K in the property of equity.
Great video
How long are the JV agreements? When can an investor cash out if they want? And who is responsible for the property management costs?
The most important thing when investing with others is to draw up a Legal Contract. In that document you decide if or when you pull out and what percentage you would take - which is usually related to what you put in.
Love this video
Nice tips..thanks.
Absolutely great informative video
how is the stamp duty so low?!!
Great stuff Kevin - what do you have in place to prevent the JV partner selling the property before you are able to take half the equity and cash flow?
I don’t get it? Is there a joke here or something
Keanan - it's usually bought under an SPV where you and the JV partner have equal shares
It’s purchased within a ltd company with a shareholders agreement
Where do you find someone willing to JV with you?
Very helpful videos
good video
what is the discount card mentioned in the video for the kitchen???
LNPG
I'm sorry to say this but how have you only made £14k profit when there were two opportunities to add value
1.) buying from motivated seller
2.)refurbishing the property
Love the channel though
It is not possible to do all that for aprrox £15K!
Nikki On: Oh yes it is !! The property is not in London, I believe anyway. My present refurb, and I have done more than this one, is coming in at around £11k. Shop wisely! As Kevin says, a lot of people go way over the top, did you notice he didn't change the bath? That room was mostly just tidied up. Listen to what he is saying ...
Get Anne Houlton in to do the Sell - she is way better than Kevin. People can more relate to Anne than Kevin, Anne is more Homely and Trustworthy.
Brill
Hey Kevin - your advise and your strategies are Great - too bad your Wardrobe and your choice of Barber has more of a personality than what you Have, and that is taking away from what you are saying.
people will be kicking themselves in regrets in few weeks if they miss this opportunity of buying and investing in Bitcoin (Cryptocurrency)
Trading crypto currency(Bitcoin) is also a nice way to invest $ 1000 and change your life.
Bitcoin trading is a very lucrative way of making money
online now.
I've got this little interest in bitcoin maybe I'll give it a try.
Bitcoin has been around for over 11 years now and have risen
Exactly, It's really good keeping an expert with years of experience close. Just like I have Mrs Angela Regina Mende she has made a lot of profits for me.